Roche Backs Guidance After Sales Fall

By Adria Calatayud

Roche Holding confirmed its 2023 guidance after a fall in sales for the first nine months, with growth in its pharmaceutical division overshadowed by a sharp drop in diagnostics sales due to weaker Covid-19-related demand.

The Swiss pharma giant said Thursday that sales for the first nine months of the year amounted to 44.05 billion Swiss francs ($49 billion), down 6% on year. Sales at the company's pharma division rose 1%, and diagnostics sales fell 25%.

At constant currency, Roche said sales grew 1% in the first nine months of the year and 7% in the third quarter alone.

The company said it continues to expect a decline in group sales for 2023 in the low single-digit range at constant-exchange rates, with core earnings per share forecast to perform broadly in line with the sales drop at constant-exchange rates.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

October 19, 2023 01:33 ET (05:33 GMT)

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